LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Aug-08 05:18
Date Time Country Event
09-Aug 700 DE HICP (f)
09-Aug 900 IT Italy Final HICP
13-Aug 800 ES HICP (f)
13-Aug 1000 DE ZEW Current Conditions/ Expectations Index
14-Aug 745 FR HICP (f)
14-Aug 1000 EU Industrial Production / GDP (p)
16-Aug 1000 EU Trade Balance
20-Aug 700 DE PPI
20-Aug 900 EU EZ Current Account
20-Aug 1000 EU HICP (f) / Construction Production
22-Aug 815 FR S&P Global Flash PMI
22-Aug 830 DE S&P Global Flash PMI
22-Aug 900 EU S&P Global Flash PMI
22-Aug 1500 EU Consumer Confidence Indicator (p)
23-Aug 700 SE Unemployment
23-Aug 745 FR Manufacturing Sentiment
23-Aug 900 EU ECB Consumer Expectations Survey

Historical bullets

LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Jul-09 05:18
Date Time Country Event
09-Jul 1000 EU ECB's Cipollone at digital euro events by CB of Cyprus
10-Jul 900 IT Industrial Production
11-Jul 700 DE HICP (f)
12-Jul FR HICP (f)
12-Jul 800 ES HICP (f)
15-Jul 700 DE Retail Sales
15-Jul 800 EU ECB's Lagarde and Cipollone in Eurogroup meeting
15-Jul 1000 EU Industrial Production
16-Jul 800 EU ECB's De Guindos in ECONFIN meeting
16-Jul 900 EU ECB Bank Lending Survey
16-Jul 900 IT Italy Final HICP
16-Jul 1000 DE ZEW Current/Expectations Conditions Index
16-Jul 1000 EU Trade Balance
17-Jul 1000 EU HICP (f)
18-Jul 1000 EU Construction Production
18-Jul 1315 EU ECB Deposit/Refi/Marginal Lending Rate
18-Jul 1345 EU ECB Monetary Policy Press Conference
18-Jul 1515 EU ECB's Lagarde presents MonPol decision on podcast

US TSYS: Tsys Futures Steady Ahead Of Powell Testimony

Jul-09 05:13
  • Treasury futures have remained in a very tight trading range today, TU hit a high of 102-09⅛ and now trades at 102-08⅝, while TY hit a high of 110-18 and now trade at session lows at 110-15+.
  • Volumes are on the low side this morning: TU 23k, FV 31k, TY 56k
  • The cash treasury curve is little changed today, yields are +/- 0.5bp. the 2s10s is +0.597 at -34.842.
  • APAC markets: ACGB yields are 0.5-2bps lower, curve bull-flattening. NZGB yields are 1-3bps lower, curve bull-flattening. JGB yields are +/- 2bps as the curve bear-steepens, the BoJ will hold a meeting today and tomorrow to hear from banks, securities firms, and buy-side investors about the planned reduction in bond-buying operations.
  • There continues to be talk around Biden being asked to step out of the Presidential race. Kamala Harris was recently the favoured candidate occurring to PredictIt although over the past 24hrs she has dropped 18pts to a 26% chance, while Biden is now at 64% chance of being the nominee, up 23pts.
  • Projected rate cut pricing looks steady to fractionally higher by year end vs. early Monday levels (*): July'24 at -6.5% w/ cumulative at -1.6bp at 5.313%, Sep'24 cumulative -20.0bp (-19.4bp), Nov'24 cumulative -31.2bp (-30.1bp), Dec'24 -50.3bp (-49.2bp).
  • Looking ahead, NFIB Small Business Optimism and Fed speak from Barr, Powell & Bowman

EURGBP TECHS: Resistance At The 50-Day EMA Remains Intact

Jul-09 05:03
  • RES 4: 0.8586 76.4% retracement of the Apr 23 - Jun 14 bear leg
  • RES 3: 0.8568 High May 20
  • RES 2: 0.8551 1.0% 10-dma envelope
  • RES 1: 0.8496/99 50-day EMA / High Jul 1
  • PRICE: 0.8455 @ 06:02 BST Jul 9
  • SUP 1: 0.8431 Low Jun 25
  • SUP 2: 0.8397 Low Jun 14 and the bear trigger
  • SUP 3: 0.8388 Low Aug 17 2022
  • SUP 4: 0.8366 2.236 proj of the Apr 23 - 30 - May 9 price swing

EURGBP continues to trade below its recent high on Jul 1. A key resistance at 0.8496, the 50-day EMA, remains intact. Clearance of this EMA is required to undermine the current bearish theme and signal scope for a stronger reversal. Gains since Jun 14 appear to be a correction. Initial firm support to watch lies at 0.8431, the Jun 25 low. A break of this support would open 0.8397, the Jun 14 low and the bear trigger.